DUBLIN–(BUSINESS WIRE)–The “Indonesia Prepaid Cards Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The Indonesia prepaid cards market reached a value of around US$ 3 Biliion in 2020. Looking forward, the market to exhibit strong growth during 2021-2026.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A prepaid card is also known as “stored-value card” that uses preloaded transaction funds. These cards do not require any bank account to be linked as they can be used by anyone irrespective of their credit rating, income, status, or someone holding the bank account. Some prepaid cards cannot be reloaded and are disposed after their value is used up. On the other hand, reloadable prepaid cards can be refilled with funds.
Indonesia has witnessed tremendous development in the e-commerce industry, pushing the younger population to use the internet payment platform. Younger population prefer card as their payment method over others which is driving the adoption of prepaid cards in the country.
Moreover, the growing use of POS (Point of Service), EDC terminals and ATM facilities in Indonesia have motivated retailers to use electrical payment methods that encourage consumers to use prepaid cards. The government has also pushed the Prepaid Cards Market through numerous projects focusing cashless economy such as the cashless toll road scheme in 2017.
However, there is also some reduction in average transaction values as large numbers of customers entered the cashless payment system and increasing numbers of banks that have exacerbated Indonesia’s prepaid industry.
Key Questions Answered in This Report:
Competitive Landscape:
The report has also examined the competitive landscape of the Indonesia prepaid cards market. Some of the major players include:
Report Coverage
Market Breakup by Card Type:
Open loop cards currently dominate the market, holding the largest share.
Market Breakup by Purpose:
Transportation segment currently dominate the market, holding the largest share.
Market Breakup by Vertical:
Amongst these, corporate/organization currently represent the leading segment accounting for majority of the market share.
Market Breakup by Region:
Amongst these, Java region accounts for the highest market share.
For more information about this report visit https://www.researchandmarkets.com/r/zg33gd
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